Founded in 2014, Big60Million believes that communities closest to solar farms should have the opportunity to benefit from them.
Its vision for the future is that the 60 million residents of every town and village in the UK should have the opportunity to harness wide ranging financial, environmental, and social benefits from their local, sensitively sited solar farm.
To deliver these benefits the Big60Million initiative was created by BELECTRIC UK a leading solar energy company that designs, builds and operates photovoltaic (PV) solar farms and rooftop installations throughout the United Kingdom.
On 1 April 2015 Big60Million launched a £20.4 million solar bond portfolio, offering 6% annual gross return on investments. Two of the three sites within the portfolio were co-developed with Luminous Energy, and the bonds being offered in these were:
- £5.8 million for Southam Solar Farm – a 10.4 MW project near Royal Leamington Spa, Warwickshire.
- £6 million for Paddock Wood Solar Farm – a 9.2 MW project near Tunbridge Wells, Kent.
Investment in these solar farms is now closed. An additional site Overton Solar Farm - a 3.5 MW project in Overton, Hampshire is due to begin construction later this year and investment opportunities will be open following its completion.
The five-year, fixed-term bonds are priced at £60 each for stakes in these operational solar farms. Big60Million has reserved 10% of the bonds for six weeks for people living within 10 miles of each solar farm to allow for each project to return profits to its community.